VA loans are currently the most liberal loans out there in terms of providing borrowers cash-out on refinances all the way up to 100% of the property’s value. Also remember, if you are eligible for a VA loans, you can refinance your conventional loan into a VA loan. Perhaps you have an adjustable rate loan or a high rate fixed loan that you acquired a while back, well you can refinance that into a low rate 30 year fixed VA loan and possibly get cash back if you need it.
For VA cash out refinance or a conventional to VA loan refinance we will need the following items to process your loan:
- Full property appraisal
- Credit report
- Income documentation
30 year fixed interest rates are STILL at near historical lows. It is a great time to have the security of a VA 30 year fixed rate loan if you are currently in another type of loan. Additionally, if you need cash out to pay bills, renovate your property, or whatever, this is a great time to do that as you can get the cash out at record low VA 30 year fixed rates.
Some highlights of VA loans today:
- VA loans go up to 100% financing
- Sellers can pay all your closing costs on a purchase
- Maximum VA loans can get all the up to above $700,000 in many areas of the nation where jumbo VA loans are possible
- VA loan streamline refinance are easy to drop your interest rate to today’s low rates
- You don’t need great credit to apply for a VA loan, so if you think you have bad credit you still may be able to get a VA loan
- VA loan interest rates at record lows and being held down by the government to stimulate the economy, this won’t continue forever
- California VA Loans 100% to $737,000+ in many counties
Give me a call (858-922-7899) or email (homeloan8@gmail.com) if you have any questions at all about getting approved for a conventional to VA refinance loan or VA purchase loan.
Warmest Regards,
Rob Chomentowski
Sr. Loan Officer (and VA specialist)
858-922-7899
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